Financing Arrangements / Borrowing Restrictions. 11.4.1 Subject to any statutory requirements for the time being in force and to the terms and conditions herein contained, the Management Company may arrange borrowing for account of the Scheme, with the approval of the Trustee, from Banks, financial institutions, non-banking finance companies or such other companies as specified by the Commission from time to time. The borrowing, however, shall not be resorted to, except for meeting the redemption requests and shall be repayable within a period of ninety days and such borrowing shall not exceed fifteen per cent of the Net Asset of the Scheme at the time of borrowing or such other limit as specified by the Commission.
11.4.2 The charges payable to any bank, non-banking finance companies or financial institution against financings on account of the Scheme as permissible under Clause 11.4.1 above, shall not be higher than the normal prevailing bank charges or normal market rates.
11.4.3 Neither the Trustee, nor the Management Company shall be required to issue any guarantee or provide security over their own assets for securing financings from banks and financial institutions. The Trustee or the Management Company shall not in any manner be liable in their personal capacities for repayment of financings.
11.4.4 For the purposes of securing any borrowing the Trustee may , subject to clause 11.4.1 above, on the instruction of the Management Company mortgage, charge or pledge in any manner all or any part of the Trust Property.
11.4.5 Neither the Trustee nor the Management Company shall incur any liability by reason of any loss to the Trust or any loss that a Unit Holder(s) may suffer by reason of any depletion in the Net Asset Value that may result from any financing arrangement made hereunder in good faith.
Financing Arrangements / Borrowing Restrictions. 11.4.1 Sujbect to any statutory reuirements for the time beingin force and tothe terms and conditions herein contained, the Manaegment Company may arranegrrobowingfor account of the Scheme, with the approavl of the Trustee, from Bansk, financial institutions, non-anikngfinance companies or such other companies as specified byhet Commission from time to time. The borrowin,ghoweevr, shall not eb resorted to, except for meetingthe redemption requests and shall be repayable within a period of ninety days and such borrowingshall not exceed fiteen per cent of the Net Asset of tShceheme at the time of borrowingor such other limit as specified yb the Commission.
11.4.2 The charegs payable to any ban,knon -abnikngfinance companies or financial institution aaginst financinsg on account of the Scheme as permissible under Clause 11.4.1ev,abo shall not be hihger than the normal preavilingbankcharegs or normal marekt rates.
11.4.3 Neither the Trustee, nor the Manaegment Company shall be required to issue any ugarantee or proivde security oevr their own assets for securingfinancinsg from ansk and financial institutions. The Trustee or the Manaegment Company shall not in any manner eb lialbe in their personal capacities for repayment oinfafncinsg.
11.4.4 For the purposes of securingany borrowingthe Trustee may , subject to clause 11.4.1 aboev, on th e instruction of the Manaegment Company mortageg, chareg or pledeg in any manner all or any part of the Trust Property.
11.4.5 Neither the Trustee nor the Manaegment Company shall incur any liability yb reason of any lossto the Trust or any loss that a Unit lHdeor(s) may suffer by reason of any depletion in the Net Asset Value that may result from any financingarranegment made hereunder in ogod faith.
Financing Arrangements / Borrowing Restrictions. 11.4.1 Subject to any statutory requirements for the time being in force and to the terms and conditions herein contained, the Management Company may arrange borrowing for account of the Scheme, with the approval of the Trustee, from Banks, financial institutions, non-banking finance companies or such other companies as specified by the Commission from time to time. The borrowing, however, shall not be resorted to, except for meeting the redemption requests and shall be repayable within a period of ninety days and such borrowing shall not exceed fifteen per cent of the Net Asset of the Scheme at the time of borrowing or such other limit as specified by the Commission.
11.4.2 The charges payable to any bank, non-banking finance companies or financial institution against financings on account of the Scheme as permissible under Clause 11.4.1 above, shall not be higher than the normal prevailing bank charges or normal market rates.
